The investment will upgrade the Milo manufacturing line introducing state-of-the-art manufacturing technology to the factory and supporting an increased production capacity Nestlé Australia has announced a $32 million investment in its Smithtown factory, which manufactures Milo – bringing investment in the site to approximately $80 million in the last decade. The investment will upgrade[Read More…]
Finance
Vegan Food acquires German Tofutown
The latest acquisition is Vegan Food Group’s first since it was rebranded as a new development out of its initial company, VFC Foods Vegan Food Group has agreed to acquire Tofutown, a German tofu manufacturer with €60 million in revenue. The latest acquisition is Vegan Food Group’s first since it was[Read More…]
Oishii raises $134Mn series B to expand distribution network
Oishii aims to make vertical farming mainstream in the United States and is the only vertical farm in the country that sells strawberries year-round Vertical farming startup Oishii has raised $134 million in its Series B funding round. The funding was led by Japan’s leading telecommunications company NTT, and attracted[Read More…]
ADB, Credo sign deal to promote food security in Georgia
ADB’s financing will provide long-term local currency funding to support Credo The Asian Development Bank (ADB) and Credo Bank have signed a loan of 65 million lari ($25 million). The loan will support lending activities to micro, small, and medium-sized enterprises (MSMEs), with a specific focus on targeting women borrowers[Read More…]
Fonterra plans to merge New Zealand and Australian brands
The integration will take effect on May 1, 2024. René Dedoncker, Fonterra Australia’s managing director, will lead the new Fonterra Oceania team Fonterra, the dairy cooperative, plans to merge its New Zealand and Australian brands into a single entity called Fonterra Oceania. CEO Miles Hurrell stated in a letter to[Read More…]
Turkish Coca-Cola to acquire Coca-Cola Bangladesh Beverages
The acquisition will involve CCI acquiring all CCBB shares at a net value of $130 million, or over Tk 1,400 crore Turkish beverage company Coca-Cola Icecek (CCI) has recently signed an agreement to acquire Coca-Cola Bangladesh Beverages Ltd (CCBB) for $130 million. CCBB is one of the two Coca-Cola bottlers[Read More…]
BRITA SE Germany acquires innovative hydration company LARQ
Experts in drinking water optimization continue international expansion into North American consumer business under the LARQ brand BRITA SE, one of the world’s leading companies in the field of drinking water optimisation and individualisation, has acquired LARQ, Inc., the innovative brand behind a line of sustainable and healthy hydration products in North[Read More…]
Nestlé announces sell of Nordic premium culinary brands to Solina
The transaction is expected to close end of March following an information process with employees where required Nestlé announces an agreement to sell its Nordic Professional Premium Culinary business, which includes the brands OSCAR and PULJONKI, as well as two factories located in Roennede, Denmark, and Juuka, Finland, to Solina.[Read More…]
Netherlands’ Dawn Foods announces acquisition of Royal Steensma
The acquisition includes four manufacturing plants in The Netherlands, a manufacturing facility in Thailand, and continued involvement with the Food Innovation Academy (FIA) education centre in The Netherlands Global bakery manufacturer and ingredients supplier Dawn Foods announced the acquisition of Royal Steensma, a renowned family-owned bakery ingredients manufacturing company headquartered in Leeuwarden, The Netherlands. Royal Steensma has[Read More…]
UK’s Complete Food acquires SK Foods and Zorba Foods
The two food businesses are category leaders in private-label chilled party foods and dips and deli fillings, with a combined turnover of over £160m and over 1,150 employees The Complete Food Group announced that SK and Zorba Foods have been acquired from The Entrepreneurial Food Group. The two food businesses[Read More…]
